Eligibility of service tax credit not distributed by Input Service Distributor till June 30, 2017 This Outlook is to apprise you regarding an issue being faced by taxpayers who were registered as Input Service Distributor (‘ISD’) under Service Tax law but could not...
Dispute regarding carry forward of closing balance of VAT credit due to non-furnishing of statutory forms like Form C This is to update you regarding the recent notices issued by the department in respect of carry forward of closing balance of VAT credit in Form GST...
Ability to carry forward transitional credit relating to pre-GST regime issues owing to taxpayers’ errors The Goods and Service Tax (‘GST’) law finds its origin in the cause of seamless flow of credit. The GST law allowed carry forward of transitional credit subject...
Interest on delayed grant of output stage refund of IGST on exports Dear Reader,NITYA Tax Associates is pleased to present our new series ‘NITYA’s Outlook’ wherein we will share ourviewpoints on key issues under GST. In this regard, please find ‘NITYA’s Outlook...
Applicability of GST on TCS The CBIC has issued Circular No.76/50/2018-GST dated December 31, 2018 (‘Circular’) inter-alia clarifying that basis Section 15(2)(a) of the CGST Act, tax collected at source (‘TCS’) under the provisions of the Income Tax Act, 1961 (‘IT...
Time limit for taking Input Tax Credit pertaining to Financial Year 2017-18 – Recent developments In reference to our earlier update dated November 26, 2018 on the captioned issue, we would like to apprise you regarding the recent Writ Petition filed before the...
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